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SUZLON ENERGY LTD.
CMP (Rs.): 52.35 EPS (Rs.): 0.00 52 Week High : 95.40
MCap (Rs. Cr.): 9384 Book Value(Rs.):39.21 52 Week Low : 43.00
Fundamental View :
Suzlon Energy has signed an agreement with Hindustan Zinc, a Vedanta Group
company to set up, operate and maintain 150 MW of wind power projects in
Karnataka, Maharashtra, Rajasthan and Tamil Nadu. The project entails a total
investment of approximately Rs. 865 crore.
REpower Systems AG (WKN 617703) in which Suzlon Energy is a majority
shareholder with over 90% holding has concluded a contract for the delivery of
25 wind turbines with EverPower Wind Holdings, Inc with an option to purchase
an additional 85 units.
Outlook: Although the demand from the Indian and other emerging markets is growing, the
subdued outlook for large markets like the US and Europe will remain an overhang on the
company's consolidated performance in the next few quarters. Growth in emerging markets
will be insufficient to propel the overall dwindling growth, led by subdued developed
markets.
Technical View:
In the daily charts the stock is above its 25 DMA which is at 51.92. The 14 day RSI is 50.93,
MACD on daily charts is 0.11. The stock is below its 200 DMA which is at 58.71.
Recommendations:
This week the stock has shown better strength as compared to broader markets as it has
risen nearly 2.5% in the last 5 sessions. Short term moving averages are converging near 52-
55 levels and once this region is crossed there can be good recovery in the stock towards 59
levels which is its 200DMA as well.
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